Agriculture - November 2010
Citrus prices fell 41 percent in October from a year earlier.
- Market conditions remain uncertain for Floridaâ??s citrus industry as citrus prices weakened in October on a monthly and yearly basis.
- Weak prices have dampened the industry outlook, which was already troubled by rising production costs from efforts to control canker and other diseases.
- However, the most recent citrus production estimates from the U.S. Department of Agriculture (USDA) for the 2009–10 season were up 1 percent from the previous year.
Poultry prices increased 18 percent in October from a yearÂ,â earlier, according to the USDA.
- Poultry prices have continued a positive trend during most of 2010.
- The most recent USDA report indicated that the poultry industry will curb production this year because of higher feed prices and limited growth domestically.
Market conditions have continued to sustain healthy year-over-year growth in cotton prices.
- Cotton prices in October jumped 33 percent from a year earlier, led by favorable global market conditions.
- According to recent USDA data, the short-term outlook for cotton is bright. Major mill producers, such as China and India, are expected to rely more on U.S. cotton since their cotton crops are troubled by bad weather.